By Stephen Nakrosis


Danaher Corp. on Wednesday said it planned to separate its Environmental & Applied Solutions segment as an independent, publicly traded company.

The new company will be made up of Danaher's Water Quality and Product Identification businesses and, until it is named at a future date, will be referred to as EAD, Danaher said.

The segment includes operating companies such as Hach, ChemTreat, Trojan, OTT, Videojet, X-Rite Pantone and Esko, among others, Danaher said.

According to the company, the Environmental & Applied Solutions segment generated about $4.7 billion in revenue in 2021.

Danaher shares gained 4.7% to $295.02 in after-hours trading after the deal was disclosed.

Upon completion of the transaction, Jennifer L. Honeycutt will become president and chief executive of EAS, Danaher said. She currently serves as EVP with responsibility for the Environmental & Applied Solutions segment.

The deal is intended to be tax-free to Danaher shareholders and is expected to be completed in the fourth quarter of next year, Danaher said.


Write to Stephen Nakrosis at stephen.nakrosis@wsj.com


(END) Dow Jones Newswires

09-14-22 1656ET